Tag Archives: Regulation

The Luxembourg law on reserved alternative investment funds (RAIF) is a welcome addition to the alternative investment funds (AIF) industry and we have seen keen interest from the fund and asset management industry in this new platform. Since its introduction last summer, for the first time in Luxembourg there is the ability to set up … Continue Reading

The SBEEA (Part I: People with Significant Control) Against the backdrop of an increasing push for greater transparency of company ownership, the Small Business Enterprise and Employment Act 2015 (“SBEEA“) took effect on 6 April 2016 which implements the beneficial disclosure requirements of the EU Fourth Money Laundering Directive. The SBEEA imposes a requirement on … Continue Reading

On 23 July 2015, the UK Treasury published a consultation paper and draft Legislation Reform (Limited Partnership) Order 2015 setting out its proposed amendments to the Limited Partnership Act 1907 (LPA 1907). The proposals were intended to modernise the law on limited partnerships by removing unnecessary legal complexity and administrative burdens to ensure that UK … Continue Reading

UK regulated fund managers and asset managers should bear in mind that, while the Brexit vote has occurred, this does not bind the UK Parliament. As of the date of writing (12 July 2016), the process of withdrawal under Article 50 of the Lisbon Treaty has not yet started. Although the timetable for withdrawal under … Continue Reading

This post was authored by Jacqui Hatfield, regulatory partner at Reed Smith LLP, London. The AIFMD trigger date occurred on 22 July this year, with a 12-month transitional period (TP) in place in the UK for (i) existing UK managers of AIFs (UK AIFMs), and (ii) non-EU managers of AIFs (Non-EU AIFMs) actively marketed in … Continue Reading

Anti-bribery systems and controls have been at the forefront of compliance officers’ minds for some time, in particular since the enactment of the UK Bribery Act (PDF) which Oliver s’Jacob has already commented on in his blog of 19 April. Readers may be interested to know that the UK Financial Services Authority (FSA) on 21 July 2011 … Continue Reading

On 1 July 2011, the European Union Directive on Alternative Investment Fund Managers (AIFMD) was published (PDF) in the Official Journal of the European Union and is now law. It is no secret that, since the European Commission first mooted the concept of a generic platform for regulating non-retail investment management in Europe, there has been strong criticism … Continue Reading

In May 2011 the European Commission published the responses to a consultation paper (PDF) issued in February which asked the European Community to provide its views on the following: whether a new tax on the financial sector should be introduced; if so, what impact the tax would have; and how it should be designed and implemented? In its paper, … Continue Reading

This post was written by Amy J. Greer. While some have suggested that Morgan Stanley’s recent announcement that it will permit its financial advisors to take tentative first steps into the world of social media is nothing but a big yawn, given how fraught the social media world is with potential regulatory land mines, in … Continue Reading

The SEC adopted final whistleblower rules (PDF) on May 25, 2011. The crux of the news here is that SEC decided not to require whistleblowers to report suspected law violations internally before reporting them to the SEC. Although the SEC staff knows, better than most, the wide variety of things that motivate employees to inform … Continue Reading

Readers of this blog will no doubt be aware that regulators and legislators worldwide are working manically to update their financial services legislation to conform to political agendas (rightly or wrongly) arising from the credit crisis. I thought that it may be useful to give you a reminder of a couple of the forthcoming changes that we’ll … Continue Reading

On Wednesday I attended the very well-organised Guernsey Funds Forum at the Grange St Paul’s Hotel in London organised by Guernsey Finance. There were three very interesting panel discussions, excellently moderated by TV news anchor Alastair Stewart. The first of these concentrated on the perhaps rather predictable topic of the Alternative Investment Fund Managers Directive … Continue Reading

The controversial European Alternative Investment Management Directive (AIFMD), finally adopted by the European Parliament last November, was originally expected to be published in early 2011, so triggering a two year period in which Member States would be required to get their rule books in order to ensure consistent fund management regulation across the EU. Five … Continue Reading

Now that we finally have a date lined up for the Bribery Act to come into force, and the Ministry of Justice (MoJ) has published its guidance on the Act, I thought I’d refresh my memory on what it’s all about. After making a quick mental note to cancel that lunch I’ve arranged with a sovereign … Continue Reading